Despite the impending budgetary problems facing the Social Security Administration’s Social Security Disability Insurance (SSDI), current claimants are in need of an increase in disability benefits, due to a general rise in consumer prices.
As discussed in a recent news article by The Wall Street Journal, the level of benefits is supposed to be based upon the Consumer Price Index. The program allows for cost-of-living adjustments when indicated, based upon inflation and increases in consumer prices.
The latest increase will be a modest increase of 1.7 percent will go into effect for SSDI recipients starting Dec. 31, 2014. The previous increase was 1.5 percent, and there was an increase of 1.7 percent in 2013.
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